Nifty 4384.85
A short term correction is possible from 4350-4400 level in coming trading sessions. Instead, if it moves and sustains above this level, then it is likely to move towards 4600 in coming weeks.
In the extreme short term, as long as it stays above 4370, the trend would be bullish and further upside is possible. Below this level, it could turn weak.
Today, if Nifty sustains above 4370, then it is likely to test 4420. Below 4370, it could test 4310.
Medium term outlook of Nifty – dated 21st May
Nifty is likely to make a significant top around 4400 level. Further upside is possible only if Nifty sustains above this level.
Long term outlook of Nifty – dated 29th June
Nifty is in long term bull market and after some downside, it is likely to move towards 5000 by this year end.
Trading Strategy
Remain long as long as it stays above 4370.
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